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Neiman Marcus Sales Drop 25%
(Source: Wall Street Journal)
Weak sales and heavy discounting drove Neiman Marcus Group to a $168.5 million loss for its most-recent quarter. Excluding accounting charges, the loss was $25.4 million, compared to a loss of $4.3 million in the comparable period last year. . . . keep reading
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Cartier Forces Apple to Withdraw iPhone Applications
Apple has withdrawn from distribution two applications for iPhones that simulate the faces of famous watches after a trademark infringement lawsuit was filed by Cartier. The applications, Fake Watch and Fake Watch Gold Edition, simulated Cartier's iconic "Tank" watch face, among others. . . . keep reading
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EU Proposal on Counterfeits Creates Confusion for Luxe Brands
(Source: Bloomberg)
The European Commission is preparing new rules that may facilitate the sale of some counterfeit goods via eBay and other Internet retailers. While rejecting efforts to restrict sales by retailers with physical locations, the draft plan would allow sales quantity restrictions on Internet-only sellers. . . . keep reading
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Luxury on the Web: Luxury Brands Embracing Social Networks
(Source: WWD.com)
Long considered on-line laggards, savvy luxury brands are exploiting social networks to polish their brands, create buzz and sell more product. On sites like Facebook, ASmallWorld.com and niche blogs, luxury marketers are monitoring and guiding conversations to their advantage, reports WWD. . . . keep reading
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eBay Held Responsible for Counterfeit Luxury Sales
(Source: Bloomberg)
eBay says it will appeal a French court's ruling that it pay nearly €40 million to LVMH for not adequately preventing the sale of counterfeit goods on its website. The verdict helps establish an important precedent for luxury goods makers, as well as help maintain the integrity of luxury brands by restricting the resale of goods by unqualified merchants. . . . keep reading
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Luxury's Bigger and Bolder Marketing Provides Global Exposure
(Source: W Magazine)
Many of the innovative marketing tactics pioneered by luxury companies have now become commonplace, adopted by products as mundane as coffee and cell phones. The quest to find new ways to inspire and amuse clients, and the media, has led to extreme marketing and public relations techniques that often carry extreme price tags. But the payback can be monumental as such events now provide wide, international exposure. . . . keep reading
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